Jim Cramer’s daily rapid fire looks at stocks in the news outside the CNBC Investing Club portfolio. Chevron : The oil giant beat on quarterly earnings but missed on revenue. “Maybe this is a chance to buy some oil,” Jim Cramer said Friday. “I’ve been itching to buy Devon ” again for the CNBC Investing Club portfolio . Cramer thought Chevron shares should be higher, not lower Friday. Snap : The social media company reported a much better-than-expected quarter with higher revenue and active users. “Consumer products companies like it because they have the younger people,” Cramer said. “It’s very positive.” The stock surged more than 25%. Intel : The chipmaker saw a mixed quarter â an earnings beat but a sales miss. Guidance was weak. Intel’s foundry business lost $2.5 billion. Cramer said the numbers made him think: “Is their balance sheet good enough?” The stock was getting slammed, down 9%. AbbVie : The drugmaker delivered a better-than-expected quarter but Botox missed. Shares fell nearly 4%. The company did raise its full-year outlook. The problem here, Cramer said, is “generics, biosimilars,” that compete against Abbvie’s name brands. Colgate-Palmolive : The consumer products giant had a strong quarter with organic sales up 9.8% and a full-year sales guidance raise. Shares were up slightly. “They did better than Procter. I admit that,” Cramer said, referring to Procter & Gamble , which is a stock owned by the Investing Club. He said he thinks Colgate â up less than 1% to $89 per share on Friday â goes to $100 soon.
Source Agencies
